Jaiprakash Power Ventures’ losses narrow in Q4

Kolkata: Net losses of Jaiprakash Power Ventures Ltd (JPVL) narrowed down to Rs.141.54 crore during the fourth quarter of 2014-15 against the posted loss of Rs.171.98 crore.

The company posted healthy net revenues of Rs.914.79 crore during the first three months of 2015, but however, a surge of finance costs by over 86 percent at Rs.684.25 crore brought down its net profit from Rs.403.98 crore to a final accounting loss of Rs.275.71 crore. A deferred tax payment of Rs.134.17 crore helped the company narrow down the loss to the current level.

For the quarter, the net revenue stood at Rs.429.64 crore while finance costs accounted for Rs. 367.23 crore.

The firm’s consolidated profit for the fiscal however rose by an astonishing 359.8 percent at Rs.151.09 crore against Rs.32.86 crore in 2013-14.

The net revenue during the fiscal was Rs.4,139.60 crore – up by 43.26 percent from the earning of Rs.2,889.40 crore in 2013-14.